Avanza Fonder AB Purchases New Stake in The Toronto-Dominion Bank (NYSE:TD)

Avanza Fonder AB acquired a new position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,513 shares of the bank's stock, valued at approximately $6,416,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its holdings in Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock worth $25,000 after buying an additional 249 shares during the last quarter. Versant Capital Management Inc boosted its position in Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock worth $37,000 after purchasing an additional 200 shares during the period. Kimelman & Baird LLC bought a new stake in Toronto-Dominion Bank during the second quarter worth approximately $49,000. Morse Asset Management Inc bought a new stake in Toronto-Dominion Bank during the third quarter worth approximately $63,000. Finally, Eastern Bank bought a new stake in Toronto-Dominion Bank during the third quarter worth approximately $66,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TD. Desjardins cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Barclays cut Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research report on Thursday, November 21st. Royal Bank of Canada reduced their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research report on Friday, December 6th. StockNews.com cut Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, December 27th. Finally, Scotiabank cut Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded up $2.17 during mid-day trading on Friday, hitting $57.49. 7,301,617 shares of the company were exchanged, compared to its average volume of 1,972,374. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $54.48 and a 200 day moving average of $57.31. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The company has a market capitalization of $100.63 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.83.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a $0.7482 dividend. The ex-dividend date of this dividend is Friday, January 10th. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.21%. Toronto-Dominion Bank's dividend payout ratio (DPR) is 87.03%.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.